It has in the past been made easy for us to borrow money and has therefore opened a risk to becoming trapped in debt with no way out. Borrowing more money to pay debt is a vicious circle. It is a dangerous game which could lead to insolvency and bankruptcy.
Bankruptcy is very serious and not something that should be taken lightly. Not only will you lose your home along with all its assets, it can also take years before you are eligible to obtain anymore credit, let alone buy your home again.
The only way to really deal with debt is to pay it off and take extreme actions to reduce your monthly outgoings. If you have equity in your property, you should sell your property as soon as possible and use the cash to pay off as many debts as you can. However, if you have little or no equity in your property, Speedy House Sales can still help you. Do you have a house in Kent / London? Contact us now!
Complete our short form on your right and we will do our best to help you.